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Yon: A Mortar at Night

214
loppyd1/15/2009 10:19:33 am PST

re: #198 broomer

I have a financial question here as I know this is a financial savvy group. If I were to buy a house this summer and there’s a good chance of inflation, what’s my best option?
1) Forgo buying a house and rent an apt
2) Buy the smallest house I can afford to pay in cash
3) Get a 15 years mortgage with fixed rates
4) Get a 30 years mortgage with fixed rates

(Gonna sell my house this spring to capture the equity)

Some say it’s not wise to pay cash if you can afford a monthly mortgage payment so you can get the tax refund for the interest. If you follow that school of though then I would go with either option 3 or 4.